CONSUMER CHOICE

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CHAPTER 4 CONSUMER CHOICE
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Figure 1 The Budget Constraint
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Figure 2a An Increase in Income
Number of Movies per Month
30
15
Number of Concerts per Month
5
4
Figure 2b A Decrease in the Price of a Movie
Number of Movies per Month
15
Number of Concerts per Month
5
5
Figure 2c A Decrease in the Price of a Concert
Number of Movies per Month
15
Number of Concerts per Month
5
6
Figure 3 Total and Marginal Utility
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Figure 5 Effects of an Increase in Income
Number of Movies per Month
A
15
B
12
C
9
D
6
E
3
F
Number of Concerts per Month
1
2
3
4
5
6
7
8
9
10
8
Number of Movies per Month
Figure 6 Deriving the Demand Curve
D
6
3
0
1
3
5
Number of Concerts per Month
Price per Concert
D
30
Number of Concerts per Month
1
2
3
5
9
Figure 7 Income and Substitution Effects
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Figure 8 From Individual to Market Demand
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Figure 9 Time Allocation
Economics Score
90
70
80
French Score